shares dropped Thursday as investors zeroed in on declining margins at the electric vehicle maker, prompting some analysts to reduce price targets and weigh on the company's strategy of cutting prices to uphold demand.
Tesla CEO Elon Musk indicated the company's priority for now is growth over profit and said the company is navigating through an"uncertain'" macro environment. was issued just before the first-quarter results were released late Wednesday. Price tags on some Model Y units were reduced by $3,000. Wedbush analyst Dan Ives – cut price target to $215 from $225.
"In a nutshell, we remain very bullish on the Tesla story, HOWEVER this margin compression and price cut narrative must be carefully managed over the coming quarters as it now emerges as a clear overhang on the stock." "With not much in the way of new developments, and the company merely meeting Street expectations instead of beating them despite a modest gross margin miss, we view the stock's decline …. as understandable," said Nelson.
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Tesla stock price falls after new round of price cuts before earningsTesla falls after issuing a fresh round of price cuts ahead of reporting earnings results So, the Model S has been around since june 22nd, 2012, when Somebody That I Used to Know by Gotye was topping the charts. And there's no successor in sight.
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